Wamid partners with BMLL to bring advanced analytics tools to the Saudi capital markets
Partnership will deliver the Saudi market’s first white-labelled cloud analytics tools to quants, analysts and institutional investors
Riyadh/London, 2nd June 2025: Wamid, the technology and innovation arm of Saudi Tadawul Group (STG), has announced a multi-year strategic partnership with BMLL Technologies (BMLL), the leading, independent provider of high-quality, harmonised Level 3, 2 and 1 historical data and analytics to the world’s financial markets. Jointly, they will be launching a suite of white-labelled, cloud-based analytics tools tailored for the Saudi market.
The collaboration brings an innovative solution to the region as the first platform that enables quant teams, analysts and institutional investors to access deep historical order book data and run advanced models in a Python-native environment. The platform’s analytical depth, flexibility, and technical customisation represent a significant leap forward in market transparency, insight-led decision making, and the development of a more sophisticated market infrastructure in Saudi Arabia.
Paul Humphrey, Chief Executive Officer of BMLL, said: “We are thrilled to partner with Wamid and support the Kingdom’s ambition to create a more transparent and advanced market ecosystem. Our mission at BMLL is to democratise access to the most sophisticated market data and analytics of the highest quality, enabling firms to make better-informed decisions. This partnership is a testament to the trust global institutions place in our data and analytics solutions.
We are very excited about this collaboration and believe it will lead to many years of continued success. We are fully committed to supporting Wamid and Saudi Tadawul Group’s wider ambitions for Saudi Arabia and the Gulf.”
The partnership builds on BMLL’s momentum. In Q4 2024, BMLL secured Optiver and CTC Venture Capital as investors, adding to an already diverse investor base including Nasdaq Ventures, FactSet, IQ Capital’s Growth Fund and Snowflake Ventures. In addition, today, BMLL’s historical market data covers 100% of the MSCI All Country World Index, spanning Equities, ETFs, Futures, and US Equity Options across 100+ trading venues globally.
About BMLL
BMLL Technologies is the leading, independent provider of harmonised, Level 3, 2 and 1 historical data and analytics to the world’s most sophisticated capital market participants, covering global equities, ETFs and futures and US equity options.
BMLL offers banks, brokers, asset managers, hedge funds, global exchange groups, academic institutions and regulators immediate and flexible access to the most granular Level 3, 2 and 1 T+1 order book data and advanced pre and post-trade analytics. BMLL gives users the ability to understand market behaviour, accelerate research, optimise trading strategies and generate alpha more predictably.
Founded in 2014 in the machine learning laboratories of the University of Cambridge, the platform enables researchers and quants across global financial services firms to apply complex statistical techniques to BMLL’s unique big-data sets with applications such as market impact, pre and post trade analytics, order book simulation and compliance. Users no longer need to buy, curate and harmonise data. With BMLL, they gain cost-effective, instant access to a cloud-native Data Science environment via a single web portal, with a long history of the most granular, full order book data across global equities, futures and ETFs for back-testing and simulation, delivered directly into their workflows.
BMLL secured $21 million strategic investment in October 2024, led by Optiver, with participation from CTC Venture Capital and existing investors. This follows BMLL's $26 million Series B investment from Nasdaq Ventures, FactSet, IQ Capital’s Growth Fund and Snowflake Ventures in 2022/2023. Prior to that, BMLL raised $36m through Series A and seed funding rounds.
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